Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Sunbelt Securities Inc.

Sunbelt Securities Inc. increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 467.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,149 shares of the semiconductor manufacturer's stock after acquiring an additional 5,889 shares during the quarter. Sunbelt Securities Inc.'s holdings in Micron Technology were worth $610,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. GTS Securities LLC raised its stake in Micron Technology by 132.3% during the fourth quarter. GTS Securities LLC now owns 57,623 shares of the semiconductor manufacturer's stock valued at $4,850,000 after purchasing an additional 236,107 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Micron Technology during the fourth quarter valued at $132,000. Vise Technologies Inc. raised its stake in Micron Technology by 92.8% during the fourth quarter. Vise Technologies Inc. now owns 13,831 shares of the semiconductor manufacturer's stock valued at $1,164,000 after purchasing an additional 6,656 shares in the last quarter. Novem Group purchased a new stake in Micron Technology during the fourth quarter valued at $606,000. Finally, MidWestOne Financial Group Inc. raised its stake in shares of Micron Technology by 1.2% in the fourth quarter. MidWestOne Financial Group Inc. now owns 52,688 shares of the semiconductor manufacturer's stock valued at $4,434,000 after acquiring an additional 619 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Down 1.5%

Shares of NASDAQ:MU traded down $1.46 during trading on Friday, reaching $93.37. The stock had a trading volume of 16,534,270 shares, compared to its average volume of 23,517,093. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $157.54. The company has a market capitalization of $104.35 billion, a P/E ratio of 26.91 and a beta of 1.21. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm's 50-day simple moving average is $82.82 and its 200 day simple moving average is $92.34.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company's revenue was up 38.2% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. As a group, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now owns 24,954 shares of the company's stock, valued at approximately $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,808 shares of company stock valued at $1,858,424. Insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the topic of several recent analyst reports. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. reduced their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. UBS Group reduced their target price on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Wall Street Zen downgraded shares of Micron Technology from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Rosenblatt Securities reduced their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $126.48.

Micron Technology Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.